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Sam, Accountant
Category: Tax
Satisfied Customers: 14195
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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If I have shares on NYSE and sell them, do I have to pay CGT

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If I have shares on NYSE and sell them, do I have to pay CGT in US, or UK where I am resident, or Australia where I now live?


Thanks for your question - I am Sam and I am one of the UK taxe xperts.

The sale will trigger a USA taxation - which you then declare that gain (along with the USA tax suffered) to the Australian Tax authorities, which will give you credit for the USA tax suffered if they have a tax treaty with the USA )if they do not then they should allow you to claim the tax suffered as an expense so you do not suffer the same tax twice.

You do have an option of claiming back the USA tax suffered as an alien of the USA an they pay te full tax position in Australia.

But the UK I can advise will have no bearing ina ny of this situation UNLESS uou are still treated as aresident in the UK - which seems not to be the cae based on the information you have provided.



Customer: replied 3 years ago.

I have already completed a W8BEN for the US tax piece.

This was done a number of years ago when I lived in the UK.

Do you think I have to complete another W8BEN form now I live in Australia?

Thanks for your help


Thanks for your response

You will need to establish that with the IRS - as we are UK tax experts here on

the UK forum and can advsie gnerally on other countries tax procedures, but not give expert advise - but I am sure that USA tax is ALWAYS deducted on a gain position (at source) so the W*-BEN may have no releance on the end position, just the dividend payouts through the years. and additional tax suffered. But - its important you conuslt with a USA tax expert, which I am sure you can appreciate.

You can post a new question on the USA tax forum - they will be able to advsie further - then you can get all your information as to how to proceed.

Let me know if I can be of any further assistance regarding the UK position (although there is not one to worry over, which you have the commfort of knowing that!) but if in the meantime if I could trouble youto rate the level of service I have provided, it would be appreciated,.as this ensures I am credited, by Just Answr, for my time



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